Sir,
I would like to clarify the following doubt
1.Whether is it necessary to file the annual return upto the date of closure of financial year in which the company wants to strike off U/s 248(2)?

or Just it is enough to file the annual return till the end date of the financial year in which it is ceased to carry its business operations

For Ex. M/s ABC Pvt Ltd ceased its business in Mar.2015 and filed the annual return upto 31.3.2015 but therafter it has nor filed any annual returns neither close the company and Now whether it can file strike off forms under section 248(2) without filing the Annual return for F Y 16-17 to F Y 20-21?
2. In case a company did not start even not open the bank account from the date of incorporation in Dec.2018 is required to file the annual return before the closure i.e. Filing the necessary forms U/s 248 (2) if the strike off forms to be filed in Dec.2021?

Sir, my GSTIN was cancelled during Aug.2021 due to no-non filing of pending GST returns. On appeal, GSTIN was reallotted/revalidated during Dec.2021. The ITC on purchased received by me during Oct-Nov. has not been showing in GSTR 2A. Whether ITC of Oct & Nov. will not be allowed to me ?

Can a Father in law gift to daughter in law and if yes then how much amount is non taxable in the hands of daughter in law

mujhe yah janna hai ki, XYZ co ne dividend issues kiya 100 Rs. ka to iski entry kaise aayegi and ispar TDS deduct kiya 10% to tds ki entry kya aayegi. and iska effect itr mai kause section mai show hoga salaried person ke. and iske liye kaunsa FORM hoga as a employer and investor?

please reply.

Dear Sir
I am working from 2006 My annual income is less then Basic limit so previous year I am never filed itr but saving rs.100000/-each year. In 2018 I got gratuity and epfo from my previous company. Same amount I have concert to FDR in 2 bank and some balance available in saving account. In FY year annual income increase due to fd interest and some rent income approximately Rs.4 lac 10 thousand. I have seen 26 As form where only shows fd interest no any other but AIS Shows high value transaction under SFT Code SFT-016TD interest of deposit Rs.33321/- and SFT-016SB Interest of saving 14521And 245/- past 15 years I never done any high value transaction so why it shown in my ais under SFT. (2) FD value is less then 7 Lac bank will reporting if fd value exceeded Ra. 10L please suggest SFT value can face any notice or problem.

A dealer is selling tractor with its hood and cultivator for Rs.6,25,000 which includes cost of three items and charging GST @12%. In the invoice he is mentioning three items but putting consolidated value as Rs.6,25,000. Rate of GST on Tractors and Cultivators is 12% and that on Hood is 18%. My queries are :
1. Whether this will be case of composite supply or mixed supply ?
1a. If ii is composite supply, then the rate of GST on Tractor shall be applicable irrespective of the fact that Hood having GST rate of 18% is also supplied?
1b. If it is a mixed supply then the rate of GST would be 18% on whole amount as is applicable to Hood irrespective of the fact that its cost is just Rs.2,000 while tractor costs Rs.6,00,000 and cultivator costs Rs.23,000 ?
2. If the separate amount is not being charged, can it be treated that tractor alone is sold and cultivator and hood are supplied free of cost and in that case can the ITC on these items may not be allowed to be claimed and if claimed will have to be reversed?

Question No. 1 – Can a person having income from the Business and Profession can opt for new taxation regime?
Question No. 2 – If a person having income from the Business and Profession opts for new taxation regime than for how many years he has to compulsory file his return of income in new taxation regime?
Question No. 3 – If a person having income from the Business and Profession does not opts for new taxation regime for the A.Y. 2021-22 does he will continue to have the option to opt for the new taxation regime in the next A.Y. 2022-21?

Sir,
Please help to avoid confusion

(1)my friend confused to me please suggest if I file income tax return mention Saving account 2 0r 3 In itr you have to face problem be because your all data seen by it department. i have never file itr due to annual income is less the basic limit bur in this year annual income about 4 Lac I am saving since 2008
(2) I have never done any high value transaction not mention in same 26 As form but in AIS shown Under SFT code 016TD interest of deposit Rs.33025/-
So Sir, suggest what to I do

Dear Sir,

Case A - Assesse is liable for Tax Audit
Question No. 1 - Section 269ST states that the person cannot receive Rs. 2 Lakh or more in cash in aggregate from a person in a day while section 40A(3) states that the person cannot do payment of more than Rs. 10,000 in cash in aggregate to a person in a day. Sir I find that the section 40A(3) overrule section 269ST as :-
(i) if you cannot do payment of more than Rs. 10,000 in cash in aggregate to a person in a day than how the other person can receive more than Rs. 10,000 but less than Rs. 2,00,000 in cash. So here the Section 269ST does not have any relevance /use.

(ii) if a person does the payment of any amount in cash but less than Rs. 2,00,000/- than the recipient can receive the amount in cash without any contravention of section 269ST but the payer of the amount will be liable for the violation of section 40A(3) so the payer of the amount will never ever do the payment of more than Rs. 10,000 in cash and hence again the recipient will never receive an amount of more than Rs. 10,000 but less than Rs. 2,00,000 in cash and consequently section 269ST same as in case of point no. (i) above will never come into play.
I cannot understand how both of these sections can be applied in real life?

Question No. 2 - Can a assesse liable for tax audit make an invoice of cash sales more than Rs. 10,000 from a person in a day and receive cash from him as he is the seller and can receive any amount less than Rs. 2,00,000 in cash from a person in a day as in this case there is no violation in respect of section 269ST on his(seller) part irrespective of the fact that the their will be contravention of the section 40A(3) by the buyer if he does the payment of more than Rs. 10,000 in cash to him(seller) in a day?

Case B - Assesse is not liable for Tax Audit

Question No. 1 - If the assesse is not liable for tax audit and files his return u/s 44AD as profits are presumed to be 8% of their turnover so whether the assesse still has to abide section 40A(3) and section 269ST?

Question No. 2 – Can a assesse not liable for tax audit make an invoice of cash sales more than Rs. 10,000 from a person in a day and receive cash from him as he is the seller and can receive any amount less than Rs. 2,00,000 from a person in a day as in this case there is no violation in respect of section 269ST on his(seller) part irrespective of the fact that the their will be contravention of the section 40A(3) by the buyer if he does the payment of more than Rs. 10,000 in cash to him(seller) in a day?

Regards,
Shruti Agarwal

Sir,

fixed deposit Interest of Rs.32046/- reflect in AIS of Code 016TD interest of deposit RS.32046/- and Saving Interest Under SFT Code 016SB interest of Saving RS.240/- But no transaction found in form 26 AS These are highly value transaction ? its any serious matter can we face any issue please suggest